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Freeport McMoRan agrees to big coastal damage settlement

NEW ORLEANS (WVUE) - The state attorney general’s office today announced a $100 million settlement with Freeport McMoRan after years of litigation over damage to the Louisiana coast. While some say this could set the stage for more big settlements from other oil companies now being sued, others say the fight has just begun.

After nearly eight years of litigation, the state attorney general says Freeport McMoran has agreed to pay for its share of damage to Louisiana’s coast.

“We thought it was good to intervene to assure a fair and orderly resolution of claims halt the growing number of new lawsuits,” said Louisiana Attorney general Jeff Landry. Read more...

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